The resignation leaves marketing chief Kate McKenzie, who was last week handed responsibility for a new software development and applications unit, as the only survivor from the Trujillo regime.

It means that two direct reports to Telstra CEO David Thodey have quit in the past 6 months after previous international boss Tarek Robbiati stepped down in October.

The resignation takes effect immediately, with Ms Shiff planning to focus on her directorships, including in companies Telstra has invested in, such as Dimmi and IPscape, the Export Finance and Insurance Corporation and the chairmanship of the Sydney Writers Festival.

Responsibility for the venture group, will fall under the joint leadership of her Australian and US-based lieutenants, Matthew Koertge and Mark Sherman, respectively.